Economy & Business - June 2005

Soya: Soya prices have recovered some of the ground they lost in 2004 when China stopped buying. On 22 June soya prices in Rosario, Argentina closed at their highest level for the current crop: US$185 a tonne. The price has risen by 16% in the past month on fears of the damage the drought in the US will do to the crop there. In Chicago soya closed at US$270 a tonne, up from US$230 in mid May. The surge in soya prices is good news for both Argentina and Brazil who combined are now the world's biggest soya growers. Soya is Argentina's biggest export earner.

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